Question reference: S5W-25553
- Asked by: Jackie Baillie, MSP for Dumbarton, Scottish Labour
- Date lodged: 27 September 2019
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Current status: Answered by Derek Mackay on 8 October 2019
Question
To ask the Scottish Government how much financial transaction money is being used to capitalise the proposed Scottish National Investment Bank and what the repayment profile is.
Answer
The consultation paper last year, recent draft budgets and the Financial Memorandum set out that of the £2 billion of capital for the Scottish National Investment Bank, £490 million is to be provided by March 2021 as pre-cursor investments for the Bank, including £150 million for the Building Scotland Fund. This initial capitalisation will be provided through financial transactions The remaining £1.51 billion required after March 2021 will be made from Scottish Government resources; the working assumption is that this will be from further financial transactions, subject to future budget settlements. The return of capital from the Bank to the Scottish Government will fit within the Scottish Government’s future financial planning arrangements.